Business

Two in Fayette named in broodmare suit

Two Arkansas investors are suing a Lexington bloodstock agent and a local businesswoman to recover a $40,000 investment allegedly made in 2005.

Investors Mark Basinger and Mueller Thoroughbred Stables Ltd. say they each gave defendants Dennis R. Stiff and Shelia Bayes $20,000 in January 2005 to buy broodmare prospects for resale.

They also claim in the lawsuit filed in Fayette Circuit Court that the purchases were not made and that the money was not repaid by June 15, 2005, as agreed.

Bayes, who owns Shelia Bayes Fine Jewelers at Lexington Center, and Stiff were doing business as Bay Bloodstock, according to the lawsuit.

Bayes could not be reached for comment.

Stiff declined to comment on the claims made in the lawsuit, except to say that "I regret the fact that Shelia Bayes has been included in it, because she had absolutely nothing to do with them (the plaintiffs) other than meeting them socially."

The lawsuit gave no details of the purchases expected by the plaintiffs, who are seeking $40,000, plus 10 percent interest and punitive damages. A jury trial is requested.

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